Capital Accounting
  • Provide accounting support to CPD, ERS, Real Estate & Leasing, Space Management, and Facilities staff
  • All projects that meet capitalization criteria must be processed through our office.
  • Provide accounting support for all projects managed by CPD PM’s & CM’s

Accounting Staff:

  • Nicci: Dept. Director, supervises capital accounting staff and Business Finance Manager, reviews and signs all project agreements scope and funding sources, reports out at year end on status of projects. Currently works with all Self Support unit’s budgets as well.
  • Stephanie: Business Finance Manager, works with management in departments listed above on operational budget development and on-going review, supervisor of accounting staff (Susan, Floyd & Bret)
  • Diane: Fiscal Coordinator 2, reviews projects for capitalization, sets up plant funds when necessary, monitors project expenses, processes reimbursements on bond funded projects, reports out at year end on status of projects.
  • Bezu: Fiscal Coordinator 1, primary contact for project reconciliations and clearing account reconciliation, creates invoices for billing as required
  • Angela: Accountant 2, pays all invoices associated with contracts and PO’s on Master Contracts
  • Susan: Accounting Tech, pays all invoices, travel reimbursements, PO’s for all departments listed above.
  • Floyd: Accounting Tech, pays all invoices, travel reimbursements, PO’s for all departments listed above.

Asset Items: Buildings, Parking Lots, Landscaping, Infrastructure, Improvements Other than Buildings (IOTB), Capital Equipment

Capitalization Threshold & Criteria: $100,000 (unless infrastructure or IOTB - $50k) AND must extend life or functionality

Project Agreements required on all projects.

  • Provide scope
  • Asset identification
  • Funding sources (provided by requesting department)
  • Project Management Fee
  • Provide department accounting contact on projects less than $100k.

Funding Sources we use:

  • Indexes – 3 primary “types” that we use.
    • Plant fund indexes begin with “ZAR” – created for capitalization purposes
    • Building Use Credits – must have BUC authorization letter
    • Operating indexes usually begin with department abbreviation: ie. QCP, MHD, YIA

Project Managers are responsible for:

  • Budget development
  • Initiate Project Agreement Forms
    • And updating project agreements when budget changes
  • Setting up the project in E-Builder
  • Updating E-builder with any budget adjustments as required by amendments or change orders.
  • Review invoices:
    • To ensure work being billed has been performed
    • Items being billed are in compliance with contract
    • Help with funding (if certain elements of a project are supposed to be paid with certain funding sources)
  • Notifying accounting know when a project has reached substantial completion (tenant occupancy)
  • Ensuring equipment purchased on equipment list is returned to OSU.
  • Inviting Angela to attend all Architect and Pre-Construction meetings.

Accounting is responsible for:

  • Obtaining certified payroll
  • Reviewing contractor’s travel & meal reimbursements fall within OSU guidelines, mark-ups are accurate
  • Reviewing sub-contractor billings, ensure travel & meals reimbursements fall within OSU guidelines, mark-ups are accurate
  • Using funding information as provided on the project agreement.
  • Ticks and Ties the invoices and subs
  • Ensure % billed is accurate
  • MWESB reports are submitted (YE and Final)
  • Equipment lists are provided with CM/GC contracts

Accounting cannot process an invoice unless there is a fully executed contract in place. Invoices will be returned to vendors until contract is executed.  Same for amendments and change orders.